Orient Securities Plans to Acquire Shanghai Securities Amid Consolidation Push
By Jiahui Huang
Orient Securities plans to acquire an unlisted peer amid an ongoing push by Chinese authorities to cultivate globally competitive securities firms.
Shanghai-based Orient Securities said Sunday that it plans to acquire 100% of Shanghai Securities via cash and the issuance of shares. It added that the parties involved plan to determine the structure, consideration and other terms of the proposed acquisition.
Orient Securities said its Shanghai-listed shares would be in trading halt starting Monday for up to 10 trading days. The Hong Kong-listed shares fell 0.5% in Monday afternoon trading.
Chinese authorities have sought to encourage consolidation in the brokerage industry, with ambitions of building two to three world-leading brokerages by 2035.
Last year, two of China's biggest brokerages, Guotai Junan and Haitong Securities, completed their merger, creating Guotai Haitong. Smaller rivals Guolian Securities and Minsheng Securities merged in 2024.
Write to Jiahui Huang at jiahui.huang@wsj.com
(END) Dow Jones Newswires
April 20, 2026 03:21 ET (07:21 GMT)
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